Browsing by Author "Homolka, Lubor"
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- ItemKey determinants of the quality of business environment of SMEs in the Czech Republic(Technical university of Liberec, Czech Republic, 2017-06-15) Virglerová, Zuzana; Homolka, Lubor; Smrčka, Luboš; Lazányi, Kornélia; Klieštik, Tomáš; Ekonomická fakultaThe business environment is determined by various obstacles the business owners have to deal with in the course of their work. This article aims to create a model of the quality of business environment, define the key determinants of this model, and quantify the correlations among the individual determinants in the area of small and medium-sized enterprises (SMEs) in the Czech Republic. Partial results of a survey carried out at the Tomas Bata University in Zlín in 2015 were used for the analysis. On the basis of previous surveys, four determinants were set that influence the quality of business environment (State, Public perception, Financial markets and banks, Business risks). From these four areas, questions were selected and asked to business owners in the Czech Republic in the abovementioned survey. Links were identified among selected questions asked to the owners. These links led to adjusting the business environment to four determinants: State and public perception, Banks and their approach to business, Knowledge of rules and principles, and financial risks and their increase in post-crisis time. Subsequently, correlations were identified among these determinants. It was ascertained that the knowledge of the conditions of the financial system leads to a positive perception of the banks’ approach in terms of external finance. Moreover, a positive influence of the banking sector on how the business owners perceive financial risks was identified. Another important result of the survey is the fact that business owners who have the necessary knowledge of the financial market perceive financial risks as less intense compared to those lacking such knowledge of the financial market.
- ItemVyužití balanced scorecard a vliv jeho využívání na finanční výkonnost podniků v ČR(Technická Univerzita v Liberci, ) Knápková, Adriana; Homolka, Lubor; Pavelková, Drahomíra; Ekonomická fakultaThe article aims to analyze the use of the balanced scorecard (BSC) concept in Czech enterprises and the effect of its use on the financial performance of companies. The article defines the BSC concept and its important shift from the basic system for measuring the performance of the BSC as a strategic tool for measuring and managing business and management performance. There are also analyzed the results of the empirical findings of foreign studies that examined the relationship between the use of BSC and financial performance of companies. An extensive questionnaire survey carried out by the Faculty of Management and Economics of TBU in Zlín (a total of 350 enterprises in the Czech Republic) revealed that the BSC is used by approximately 13% of enterprises. A company’s size affects the use of BSC, which was confirmed by chi-square, and therefore we can state that the use of BSC grows with a company’s size. Although the use of BSC in manufacturing and service-based businesses is higher than in trading companies, the use of the chi-square did not confirm the impact of company specialization on the use of BSC. The BSC concept is also more frequently used in companies established before 1990 than in those founded later, but not even in this case did the use of the chi-square verified the impact of company age on the use of BSC. It was also tested whether the use of BSC in corporate practice improves the financial performance of companies. As financial performance indicators were selected return on equity and return on assets. The testing was carried out by using Wilcoxon test. Although enterprises using the BSC are reaching higher mean profitability, the differences in the achieved performance can not be due to the results considered significant. The results are consistent with the results achieved by Ittner et al. [22], and Griffith and Neely [15]. Different conclusions were then drawn by studies done by the following authors (Hoque and James, [16], Davis, Albright [8], Braam, Nijsen [6], Crabtree, DeBusk [7], DeGeuser, Mooraj, Oyon [9], which show that the concept of BSC use in the system for performance measurement and management is associated with higher performance. Using the Wilcoxon test, it was found that neither the level of satisfaction with the use of BSC has any effect on the financial performance of companies. There are specified benefits and limitations of this study in conclusion.